If you have a credit score of 669 or less, you fall into the category of fair credit, which is still not great in the eyes of most lenders. You are considered a subprime borrower, so getting credit might be difficult and interest rates will likely be high. If you’re looking to get a personal loan,...
If you have a credit score of 579 or lower, you are considered to have poor credit. Finding loans with a credit score this low is a challenge because lenders see you as a high risk borrower. Even if you are approved for anything, you will pay very high interest rates. But, it’s not impossible....
Payday loans are options people turn to when their backs are against the wall and they are in need of money fast. But payday loans can get a person into an even bigger financial trap, which is why you’re encouraged to explore all your other options. It’s best to feel out your other alternatives. If...
Did you know that payday loans can be a security risk? This is especially true if you’re doing an online pay day loan that’s because many sites you might think are direct lenders are actually “lead generators”. Lead generators take your information such as your social security number and bank account numbers and send them...
If you’re ready to cancel a credit card, make sure you take the right steps so you avoid getting a hit to your credit score. That means carefully choosing the best time to cancel your credit card. Here are some tips for canceling a credit card: If you expect to apply for a large loan...
One easy way to establish credit is to get a retail card. It’s also a great way to build credit and enjoy the benefits of valuable perks. In some ways, credit card approval might be easier, although they’ll start you off with a small limit. They also typically do not have an annual fee. It could...
When getting your first credit card, most people have no idea how important it is to get it right. They should choose a credit card wisely so they can avoid high fees and interest rates. First, try to find cards that avoid annual fees because you want to keep fees to a minimum. Also, look for...
All sorts of factors play a role in the amount of interest you pay on a credit card rate. One influential factor is the federal funds rate, which impacts a number of interest rate trends, including that of credit card APRs. Other factors that affect it include: The type of APR. Variable credit card APRs...
Are you wondering what the average credit card APR rate is? Do you wonder whether you’re in that “average” category or above? According to the Federal Reserve, the average credit card interest rate as a whole is 12.51 percent. But, APR changes significantly depending on the type of credit card you’re using. For example, the...
Has a credit card company or maybe even a store waived a shiny new credit card deal in front of you lately? If so, you may be considering getting it, especially if there’s a great discount or special offer coming along with it. But, even for a great deal, you might think twice before getting...
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